Ieq Capital LLC Purchases New Holdings in Marathon Petroleum Corporation $MPC

Ieq Capital LLC purchased a new position in Marathon Petroleum Corporation (NYSE:MPC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,439 shares of the oil and gas company’s stock, valued at approximately $6,504,000.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Marathon Petroleum during the second quarter valued at $6,648,958,000. State Street Corp raised its stake in shares of Marathon Petroleum by 0.3% in the fourth quarter. State Street Corp now owns 17,934,327 shares of the oil and gas company’s stock worth $2,916,660,000 after buying an additional 47,896 shares during the period. Boston Partners lifted its position in shares of Marathon Petroleum by 2.3% during the 3rd quarter. Boston Partners now owns 6,305,428 shares of the oil and gas company’s stock valued at $1,214,522,000 after buying an additional 141,691 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Marathon Petroleum during the 2nd quarter valued at about $1,029,611,000. Finally, Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter valued at approximately $472,312,000. 76.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Petroleum

In other news, SVP Shawn M. Lyon sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Henschen II sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the completion of the sale, the vice president directly owned 16,900 shares of the company’s stock, valued at $4,543,058. The trade was a 27.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MPC. Zacks Research cut shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group raised their price objective on shares of Marathon Petroleum from $291.00 to $376.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Marathon Petroleum from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the stock a “buy” rating in a research note on Sunday, July 12th. Finally, Mizuho increased their target price on Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $312.50.

Marathon Petroleum Price Performance

Shares of MPC stock opened at $362.18 on Monday. Marathon Petroleum Corporation has a twelve month low of $161.93 and a twelve month high of $367.60. The stock has a market capitalization of $105.73 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.23 and a beta of 0.52. The stock has a fifty day simple moving average of $297.25 and a two-hundred day simple moving average of $254.78. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19.

Marathon Petroleum (NYSE:MPC) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The business’s revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.96 EPS. On average, analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio (DPR) is 13.75%.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.